Current U.S financial crisis Free Essay, Term Paper and Book Report
Who is to blame for the current financial crisis?
Since the news of banking turmoil rocked the financial world and the abrupt steep decline in stock prices wiped out trillions of dollars from the stock market that made so many investors losing out a big chunk of their savings now looking for answers. So many big banks went to bankrupt and so many are lining up for that direction, so many people are losing their jobs and people's faith in banks have fallen so low now who is to take the responsibility for this mess. Before we disclose the identities it must be acknowledged that the burden of proof must not rest solely to only one entity. Here the stake holders were the banks' bosses, borrowers, Government policy makers, SEC, speculators, Monetary Policy Committee members and also the current corporate accounting methods.
When the house prices were experiencing a sharp rise in the late nineties to 2005 in the USA it is the government Monetary Policy Committee whose responsibility was to follow a tighter contractionary monetary policy that will make the house mortgage expensive and......
Word Count: 997
Page Count: 3.9 (250 words a page / double spaced)
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